Business startup
Most frequent business forms in Lithuania are the following:
• Private limited liability company („UAB“);
• Public establishment (“VšĮ”);
• Small partnership (“MB”);
• Association.
In more detail:
| Criterion | Private limited liability company („UAB“) | Public establishment („VšĮ“) | Small partnership (MB) | Association |
| Minimum number of participants | 1 shareholder | 1 member | 1 member (natural person) | 3 members (natural persons) |
| Maximum number of participants | 249 shareholders | Unlimited | 10 members | Unlimited |
| Minimum capital | Authorized capital of at least LTL 10 000 | None | None (MB members define contributions) | None |
| Liability | Limited civil liability – shareholders are not held personally liable for the company’s obligations | Limited civil liability (please acknowledge that VšĮ is a non-profit public legal person) | Limited civil liability – shareholders are not held personally liable for MB obligations | Limited civil liability |
| Management | Manager; a collegial body of management may be also formed | Mandatory general meeting of stakeholders and a single-person management body (the head of the public establishment); other bodies upon stakeholders decision |
Meeting of the members (the representative of MB should be appointed) or single-person management body (manager) |
A general meeting of members or any other body (conference, assembly) and the management body (sole or (and) collegiate) |
More information: http://www.yourbusiness.lt/startup/company-establishment-lithuania
Please bear in mind that establishing a new company might be not only costly but also a time-consuming process. Hence, we are to offer our services - a ready made company. It as a company which already has been established prior to the acquisition of the company, yet has not conducted any activities.
The benefits of buying a ready made company:
• You do not need to come to Lithuania personally (we will send you the necessary documents to sign);
• Time-saving (The registration process would take no longer than 7 business days or even might be completed in a few days if you come to Lithuania personally);
• A ready-made company already has an authorised capital of LTL 10 000 (you do have to invest in a company’s authorised capital);
• A ready made company has a current bank account, a seal, permanent office and all the documents related to the establishment;
• The Articles of Association translated into English;
• An extract from State of Registers issued right after you have bought a company (proving the necessary changes have been registered in a public register).
Please read more: http://www.yourbusiness.lt/startup/readymade-company-lithuania
Our services
We would be pleased to:
• assist you in establishing any form of business in Lithuania;
• offer to you a ready made company;
• Assist you in registering your company as a VAT payer.